NFIP puts Ian losses under $5.3bn, leaving $1.4bn FloodSmart bonds in clear
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NFIP puts Ian losses under $5.3bn, leaving $1.4bn FloodSmart bonds in clear

Rachel Dalton
11 November 2022
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The US Federal Emergency Management Agency (FEMA) has projected possible losses to the National Flood Insurance Program (NFIP) of between $3.5bn and $5.3bn from Hurricane Ian, below the trigger for the organisation’s $1.4bn FloodSmart cat bonds.

This suggests the loss to reinsurers on its more than $1bn traditional reinsurance programme should be under $80mn.

FEMA this year bought a $1.064bn

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Rachel Dalton
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